Edwards Lifesciences (NYSE:EW) Price Target Raised to $87.00

Edwards Lifesciences (NYSE:EW) had its price target increased by Mizuho from $85.00 to $87.00 in a report published on Wednesday,Benzinga reports. The firm currently has an outperform rating on the medical research company’s stock.

Several other equities research analysts also recently weighed in on the company. Dbs Bank raised Edwards Lifesciences to a “hold” rating in a report on Monday, June 2nd. Truist Financial decreased their price target on Edwards Lifesciences from $78.00 to $75.00 and set a “hold” rating for the company in a report on Friday, April 11th. Morgan Stanley increased their price target on Edwards Lifesciences from $75.00 to $81.00 and gave the stock an “equal weight” rating in a report on Tuesday. Argus raised Edwards Lifesciences to a “strong-buy” rating in a report on Thursday, July 10th. Finally, Evercore ISI increased their price target on Edwards Lifesciences from $73.00 to $77.00 and gave the stock an “in-line” rating in a report on Tuesday, July 8th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $81.00.

Edwards Lifesciences Price Performance

EW stock opened at $76.44 on Wednesday. The company has a market capitalization of $44.84 billion, a P/E ratio of 10.92, a PEG ratio of 3.82 and a beta of 1.11. Edwards Lifesciences has a twelve month low of $58.93 and a twelve month high of $88.50. The business has a 50 day simple moving average of $76.50 and a 200-day simple moving average of $73.44. The company has a current ratio of 4.45, a quick ratio of 3.66 and a debt-to-equity ratio of 0.06.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.04. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.40 billion. Edwards Lifesciences had a return on equity of 16.62% and a net margin of 75.48%. The company’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.66 earnings per share. As a group, equities analysts anticipate that Edwards Lifesciences will post 2.45 EPS for the current year.

Insider Buying and Selling at Edwards Lifesciences

In other news, VP Daveen Chopra sold 1,500 shares of Edwards Lifesciences stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $75.08, for a total transaction of $112,620.00. Following the completion of the transaction, the vice president owned 33,496 shares of the company’s stock, valued at $2,514,879.68. The trade was a 4.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Larry L. Wood sold 8,950 shares of the business’s stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $75.23, for a total transaction of $673,308.50. Following the completion of the transaction, the insider directly owned 206,900 shares of the company’s stock, valued at $15,565,087. The trade was a 4.15% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,848 shares of company stock worth $2,314,488. Insiders own 1.29% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in EW. Norges Bank acquired a new position in Edwards Lifesciences in the 4th quarter valued at about $610,895,000. Vanguard Group Inc. raised its stake in Edwards Lifesciences by 10.4% in the 4th quarter. Vanguard Group Inc. now owns 69,132,036 shares of the medical research company’s stock valued at $5,117,845,000 after purchasing an additional 6,537,494 shares during the last quarter. Nuveen LLC acquired a new position in Edwards Lifesciences in the 1st quarter valued at about $330,881,000. Jennison Associates LLC raised its stake in Edwards Lifesciences by 34.3% in the 1st quarter. Jennison Associates LLC now owns 10,086,033 shares of the medical research company’s stock valued at $731,036,000 after purchasing an additional 2,576,383 shares during the last quarter. Finally, Marshall Wace LLP raised its stake in Edwards Lifesciences by 55.7% in the 4th quarter. Marshall Wace LLP now owns 5,813,419 shares of the medical research company’s stock valued at $430,367,000 after purchasing an additional 2,079,642 shares during the last quarter. Institutional investors and hedge funds own 79.46% of the company’s stock.

About Edwards Lifesciences

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of aortic heart valves under the Edwards SAPIEN family of valves system; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases under the PASCAL PRECISION and Cardioband names.